
\begin{table}[htbp]
\begin{center}
\begin{scriptsize}
\begin{tabular}{l D{.}{.}{4.5} D{.}{.}{4.5} D{.}{.}{4.5}}
\toprule
 & \multicolumn{1}{c}{(1)} & \multicolumn{1}{c}{(2)} & \multicolumn{1}{c}{(3)} \\
\midrule
Losses Cycle$_{t-1}$                                                    & 0.64^{***}              & 0.64^{***}              & 0.61^{***}              \\
                                                                        & (0.01)                  & (0.01)                  & (0.02)                  \\
GDP Output Gap$_{t-1}$                                                  & -0.00                   & -0.00                   & -0.01^{*}               \\
                                                                        & (0.00)                  & (0.00)                  & (0.00)                  \\
Democracy$_{t-1}$                                                       & -0.02                   & -0.01                   & -0.00                   \\
                                                                        & (0.02)                  & (0.02)                  & (0.02)                  \\
Democracy$_{t-1}$ $\times$ GDP Output Gap$_{t-1}$                       & -0.03^{***}             & -0.03^{***}             & -0.02^{**}              \\
                                                                        & (0.01)                  & (0.01)                  & (0.01)                  \\
Electricity production from oil sources (\% of total)$_{t-1}$           &                         & 0.00                    & -0.00                   \\
                                                                        &                         & (0.00)                  & (0.00)                  \\
Electricity production from hydroelectric sources (\% of total)$_{t-1}$ &                         & 0.00                    & 0.00                    \\
                                                                        &                         & (0.00)                  & (0.00)                  \\
Electricity production from nuclear sources (\% of total)$_{t-1}$       &                         & -0.00                   & -0.00                   \\
                                                                        &                         & (0.00)                  & (0.00)                  \\
Oil rents (\% GDP)$_{t-1}$                                              &                         & 0.00^{***}              & 0.01^{***}              \\
                                                                        &                         & (0.00)                  & (0.00)                  \\
International oil prices (USD per barrel)$_{t-1}$                       &                         & 0.00                    & -0.00                   \\
                                                                        &                         & (0.00)                  & (0.00)                  \\
State Capacity$_{t-1}$                                                  &                         &                         & -0.08^{***}             \\
                                                                        &                         &                         & (0.03)                  \\
Imports$_{t-1}$                                                         &                         &                         & 0.00^{***}              \\
                                                                        &                         &                         & (0.00)                  \\
Exports$_{t-1}$                                                         &                         &                         & -0.00^{***}             \\
                                                                        &                         &                         & (0.00)                  \\
Population (log)$_{t-1}$                                                &                         &                         & 0.16^{**}               \\
                                                                        &                         &                         & (0.07)                  \\
Real GDP per capita (log)$_{t-1}$                                       &                         &                         & 0.03                    \\
                                                                        &                         &                         & (0.03)                  \\
Electricity Consumption$_{t-1}$                                         &                         &                         & 0.00                    \\
                                                                        &                         &                         & (0.00)                  \\
Population Density$_{t-1}$                                              &                         &                         & -0.00                   \\
                                                                        &                         &                         & (0.00)                  \\
\midrule
Year dummies                                                            & \multicolumn{1}{c}{Yes} & \multicolumn{1}{c}{Yes} & \multicolumn{1}{c}{Yes} \\
Country fixed-effects                                                   & \multicolumn{1}{c}{Yes} & \multicolumn{1}{c}{Yes} & \multicolumn{1}{c}{Yes} \\
Number of countries                                                     & 110                     & 110                     & 106                     \\
Adj. R$^2$                                                              & 0.42                    & 0.42                    & 0.42                    \\
Num. obs.                                                               & 3214                    & 3214                    & 2939                    \\
\bottomrule
\multicolumn{4}{l}{\tiny{$^{***}p<0.01$; $^{**}p<0.05$; $^{*}p<0.1$}}
\end{tabular}
\end{scriptsize}
\caption{Ciclicality of Electricity Losses in Autocracies and Democracies controlling for Factors Affectind Domestic Electricity Prices}
\label{tab:prices_factors}
\end{center}
\end{table}
